China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
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China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
China Resources Enterprise Ltd., the Chinese partner of SABMiller Plc, said it may spend as much as HK$5.5 billion ($707 million) on acquisitions by the end of the year after first-half profit more than tripled. The shares slid.
“We have negotiations at the moment in all four sectors” of retail, beer, non-alcoholic beverages and food, Chief Financial Officer Frank Lai said in Hong Kong yesterday. He declined to name specific targets.
Net income for the government-backed company climbed to HK$4.24 billion in the first half from HK$1.16 billion a year earlier on surging growth at its retail division, which has 2,900 stores. China Resources said in June that it was buying control of Pacific Coffee Group, Hong Kong’s second-largest coffee chain, posing a threat to Starbucks Corp.’s leadership on the mainland.
China Resources will open coffee shops at some of its 200 5,000 square-meter (54,000 square-foot) hypermarkets, “allowing customers to relax,” Lai said. “It’s a good time to tap the China coffee market.”
Starbucks has about 380 stores in China and plans to have “thousands” there eventually, Chief Executive Officer Howard Schultz said in April.
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